Manali Petrochemical added 3.10% to Rs 84.70 after the company's consolidated net profit surged to Rs 91.38 crore in Q4 FY21 from Rs 14.14 crore in Q4 FY20.
Revenues during the quarter increased 55.03% YoY to Rs 369.69 crore. EBITDA jumped to Rs 129.78 crore in the fourth quarter from Rs 18.32 crore in the same period last year. Profit before tax in Q4 FY21 stood at Rs 123.47 crore as against Rs 5.49 crore in Q4 FY20.
Click here to connect with us on WhatsApp
The company's consolidated net profit zoomed to Rs 201.23 crore in FY21 from Rs 46.66 crore in FY20. Revenues rose 27.22% YoY to Rs 1037.98 crore in FY21 over FY20.
Ashwin Muthiah, chairman-MPL and founder chairman, AM International, Singapore said: "MPL has been able to do a quick turnaround despite various pandemic related challenges. It has been the best ever annual performance for the company. The company is prepared to serve customers through continuous innovation and new product launches in the post-pandemic era."
Ravi, MD of MPL and CEO, Petrochemicals Division of AM Group attributed the feat to the international and domestic market conditions and lower import of the products into India.
Manali Petrochemicals is a petrochemical manufacturer based in Chennai, India. It markets propylene glycol and polyols.
On a year-to-date (YTD) basis, the stock has zoomed 133.80% while the benchmark Sensex has added 10.64% during the same period.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
